Reader Foundation

“The organization keeps written minutes for every meeting of its governing body. It does not document committee minutes because they have no authority to act on the organizations behalf.”

“Section 1. Purpose of Conflict of Interest Policy The purpose of this conflict of interest policy is to protect this tax-exempt corporation's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the corporation or any "disqualified person" as defined in Section 4958f1 of the Internal Revenue Code and as amplified by Section 53.4958-3 of the IRS Regulations and which might result in a possible "excess benefit transaction" as defined in Section 4958c1A of the Internal Revenue Code and as amplified by Section 53.4958 of the IRS Regulations. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. Section 2. Definitions a. Interested Person. Any director principal officer member of a committee with governing board delegated powers or any other person who is a "disqualified person" as defined in Section 4958f1 of the Internal Revenue Code and as amplified by Section 53.4958-3 of the IRS Regulations who has a direct or indirect financial interest as defined below is an interested person. b. Financial Interest. A person has a financial interest if the person has directly or indirectly through business investment or family: 1. An ownership or investment interest in any entity with which the corporation has a transaction or arrangement; 2. A compensation arrangement with the corporation or with any entity or individual with which the corporation has a transaction or arrangement; or 3. A potential ownership or investment interest in or compensation arrangement with any entity or individual with which the corporation is negotiating a transaction or arrangement. Compensation includes direct and indirect remuneration as well as gifts or favors that are not insubstantial.”

“Upon request from our website.”